Aditxt and Evofem restate merger agreement towards September 30 closing

Aditxt (ADTX), its wholly owned subsidiary Adifem, and Evofem (EVFM) amended and restated their Merger Agreement. This amended and restated Merger Agreement, among others, addresses pre-closing issues critical, including interim financing needs. The other revisions to the Merger Agreement, alongside additional interim financing for Evofem, include substituting cash for Aditxt’s common stock as the consideration for Evofem’s common stock in the merger and additional changes relating to it. Aditxt and Evofem are working to close the contemplated transaction in the second half of 2024. The closing of the transaction between Aditxt and Evofem remains subject to the successful satisfaction of a number of closing conditions, including, but not limited to, Aditxt securing sufficient financing to fund its obligations at closing. No assurance can be given that all of the conditions to closing will be obtained or satisfied or that the transaction will ultimately close. Evofem recently acquired Solosec oral granules from Lupin. Under the transaction terms, Lupin can receive a potential total consideration of up to $84M based on future contingent milestones.